Descartes sees significant 2012 increases

Thursday, March 07, 2013

Information technology solutions provider Descartes Systems Group turned in significant year-over-year increases for fiscal-year 2013, with revenue finishing the year up 11 percent at $126.9 million, net income up 12 percent at $16 million, and a 32 percent rise in earnings-per-share, which ended the year at $0.25.
Services revenues also rose by 11 percent, jumping from $105.7 million in fiscal year 2012 to $116.8 million last year.
Fourth-quarter numbers painted much the same picture. Revenues rose 3 percent on the third quarter and 14 percent year over year. The vast majority of this total was generated in the United States and Europe, but significant revenue also came from Belgium, Canada and the Asia-Pacific region.
For Decartes Chief Executive Officer Art Mesher, the results bear out the feeling that data is driving the transportation industry.
“For supply chains to remain effective and relevant, businesses need to participate on a community level, where trusted technology service providers, like Descartes, deliver results to customers and enable multiple parties to communicate, collaborate and manage compliance with a shared set of services,” he said in a statement.
Descartes invested $54.1 million last year to acquire Infodis, Integrated Export Systems and Extenra Transport Solutions. At the beginning of February, it had $37.6 million in cash on hand.
“We continue to accelerate the cash provided by our operating activities while delivering financial results ahead of our long-term operating plan,” Descartes Chief Financial Officer Stephanie Ratza said in a statement. “This allows us to invest in areas of our business with high strategic value and growth potential.” - Jon Ross